Sensei Biotherapeutics initiated with an Overweight at Stephens

Stephens analyst Sudan Loganathan initiated coverage of Sensei Biotherapeutics with an Overweight rating and $5 price target. The conditionally active feature of the company’s assets in development could result in best-in-class clinical outcomes, the analyst tells investors in a research note. The top-line readout for SNS-101, currently in Phase 1 first-in-human studies for patients with advanced solid tumors, in 2Q24 can be an inflection point for the company, de-risk the pipeline strategy and steer future development of immuno-oncology therapeutics, the firm argues.